Federal regulators announced on Wednesday they had rejected five big banks’ resolution plans, which detail how the banks would handle a bankruptcy without disturbing the wider economy, sparking discussions about whether major financial institutions still face the threat of break-up by the government.
What does this mean for law firms? One would think, a whole lot more business. But if that’s the case, law firms aren’t talking. A handful of firms, including Covington & Burling, Sullivan & Cromwell and Sidley Austin, declined requests for comment on Wednesday. A lawyer at Arnold & Porter pointed to client confidentiality.
There were a lot of Big ...
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